根据Broker和CFETS数据源，成交高于估值个券中，“22云能投MTN007”与“21昆明新都PPN002”债券估值价格偏离幅度较大。低估值成交个券中，“20随州城建MTN001”估值价格偏离程度最大。卖价高于估值个券中，“21凤城河PPN001”估值价格偏离幅度最大。估值收益率高于8%的个券中，地产债排名靠前。
　　城投债个券流动性评分最小值和均值有所上升。产业债个券流动性评分最小值和均值有所上升。成交估值偏离主要分布在[-5,0)区间。高估值信用债成交笔数占比有所下降，高估值AA城投债及地产债成交笔数占比有所上升。分行业看，综合行业净价偏离幅度最大。信用债平均成交期限下降，其中城投债的成交期限有所下降，产业债的成交期限保持不变。AA城投债剩余期限均值环比下降幅度最大。永续债成交笔数下降。
　　风险提示：统计出现遗漏，高估值个券出现信用风险。

研究报告全文：证券研究报告固定收益研究2023年3月10日3月10日信用债异常成交跟踪信用市场日度跟踪2023-03-10摘要根据Broker和CFETS数据源成交高于估值个券中22云能投MTN007与21昆明新都PPN002债券估值价格偏离幅度较大低估值成交个券中20随州城建MTN001估值价格偏离程度最大卖价高于估值个券中21凤城河PPN001估值价格偏离幅度最大估值收益率高于8的个券中地产债排名靠前城投债个券流动性评分最小值和均值有所上升产业债个券流动性评分最小值和均值有所上升成交估值偏离主要分布在-50区间高估值信用债成交笔数占比有所下降高估值AA城投债及地产债成交笔数占比有所上升分行业看综合行业净价偏离幅度最大信用债平均成交期限下降其中城投债的成交期限有所下降产业债的成交期限保持不变AA城投债剩余期限均值环比下降幅度最大永续债成交笔数下降风险提示统计出现遗漏高估值个券出现信用风险尹睿哲S1090518110001yinruizhecmschinacomcn李豫泽S1090518080001liyuzecmschinacomcn敬请阅读末页的重要说明固定收益研究表1成交高于估值个券Broker数据源成交高于估值个券Broker数据源主体流剩余期限估值价格偏成交净价估值收益率成交收益估值收益评级主当日成简称行业动性评年离元偏离bp率率体债项交笔数分22云能投MTN007161Y-05398763591580544AAA综合S97782G21汴投1259D-023100313024510480AA城投D2041120潍坊03146D2Y-02199734979480430AAAAAA城投B8001120大连城乡MTN001129D-01699844453540495AAAA城投D4530122高安01233Y-0139785584519513AAAAA城投C5847123豫资01298Y-01210013379345341AAA城投C5847219宜昌城控MTN003109Y-00810207612302296AAAA城投A9244421涪陵07137Y2Y-00810041493380375AA城投A9397123成都香城CP001342D-00810022909370361A-城投C5160122徐州新盛MTN001182Y-0079998414316312AAA城投A9490420湖城03273D2Y-00710097583309303AA城投A9368121成高01117Y2Y-00610064424302298AAAAA城投C6319222株发03256Y2Y-0069902211438436AAAA城投A9380121德财01102Y2Y-00610059393403399A-城投B8367123豫水利MTN001297Y-0069991196333331AAA城投B8429123即墨城投PPN001354D-00510154304380377A城投A8774120南京空港MTN002178D-00410047684295288AAAAA城投C6596121赣州发展MTN002197Y365D-00410186178340338AAAAAA城投S9586118江岸国资MTN001157D-00410113279289286AAAA城投C5847118福建漳州MTN0016D-00410003443250246AAAA城投S9526122漳州交通MTN005463Y-0049762107402401A城投A8677122孝感02261Y2Y-0049734160500498AA城投A9133122吉利MTN001205Y-0049892231386384AA汽车A9264222南新01188Y2Y-00410029120462461AA城投A9233221粤能源MTN001150Y-00410025233292290AAA-公用事业B7651120浦建01196Y-00310021129316315AAAA城投C6008122江公01209Y-0039989126344343AAAA城投C6962118浙能源MTN0014D-003100011048230220AAAAAA城投S9636121滁州城投MTN001105Y2Y-00310092215302300AAAA城投S9636523华润置地SCP001126D-0039978600280274AA房地产A9164318电投13255D-00310093035277277AAAAAA公用事业S9974122国投K1221Y-0039938114304303AAA综合A9390113中电投134D-00310085043268268AAAAAA公用事业S9974120招商蛇口MTN002B245Y-00310205070300299AAAAAA房地产A9462122盐城城资PPN002188Y-0029967144398397AAA城投A9198218浙能源MTN003188D-00210095048272272AAAAAA城投S9636120新密0137D-002100021489580565AA城投D2136122湘建工SCP001科创票据129D-0029965926318309AA城投B7775121商资03279D5Y-00210004050490490AAAA城投A9145121淮南矿MTN001315D-00210117045290290AAAAAA煤炭A94931资料来源qeubee招商证券敬请阅读末页的重要说明2固定收益研究表2成交高于估值个券CFETS数据源成交高于估值个券CFETS数据源主体流剩余期限估值价格偏成交净价估值收益率成交收益估值收益评级主当日成简称票息行业动性评年离元偏离bp率率体债项交笔数分21昆明新都PPN002231D-3499573584161321737620AA城投D4111223宝城投MTN001199Y365D-19998107901794715720AAAAA城投B7338622自贡国资MTN001214Y2Y-15097852797691663630AAAA城投B7190523大足发展CP001362D-148986016154801640649AAA-1城投C5293823宿州城投MTN001284Y-136101195272503451550A城投A9331123青岛城阳MTN001294Y-131100014921495445495A城投D4246222伊宁国资MTN002176Y365D-11399405917773714750AAAA城投C5047121河钢集MTN007174Y-11299306814452384410AAAAAA钢铁S9909119城陵矶MTN001114Y-107100339963630530663AAAA城投D4169122益阳城投PPN002110Y365D-10699226838640572600AA城投D4532219磁湖高新MTN002180Y-08999085368654600600AAAA城投B7815222益阳城投PPN001105Y365D-08899516622635569610AA城投D4532116雅安MTN002293D-0869670115891038923606AAAA城投D4626222巢湖城镇PPN001199Y2Y-0839835186466464420A-城投B8489222建德国资MTN001276Y-08199983197480448480A-城投A8584121濮阳开州债02552Y-07799662587708683699AAAAA城投D3366323昆交投PPN002196Y-074100104221754711760AAA城投C5548823长发集团SCP001266D-071994810175554452480AAA城投A8839123中原发展PPN001199Y365D-070100003805492454492AA城投C5097223新郑投资MTN002197Y3Y-069100104108556514558A城投A9450121通泰PPN001155Y-06797704790910862750A城投C5430122新海连MTN008244Y-06796552967523494370AA城投A9459421远洋控股PPN001317D-06784501074826382530460AAA房地产C5341522泰达投资SCP011168D-0659754158291148990590AAA城投C5585123长寿开投PPN001309D4Y-0649918823670661650AA城投B7963220龙南建投债01456Y-06199422756723696700AA-AAA城投D2702620会昌停车NPB472Y-061101152564649624700AA-AAA城投0620宜春创投绿色债452Y-061103732689532505700AAAA城投A8564722云能投MTN007161Y-05398763591580544499AAA综合S9778123武清国资CP001350D-05099215613814758728AA城投A8624821南太湖PPN001142Y-050100093700516479525AAAA城投C6997223驻马店投MTN001199Y365D-049100002667518491518A城投A9087422豫航空港PPN001163Y-04997663282654621500AAA城投S9867219淄博城运PPN002177Y-04899242898515486470AAA城投A8752423沧州交通PPN001乡村振兴185Y365D-046100593802477439500AA城投B7023323延安城投PPN001364D-046100004883650601650AA城投B70831018蚌埠投资PPN002263D-046100656419595531700AA城投B7839217淄博资运MTN002162Y-045100952948480451544AAAA城投A8752421如皋城发PPN001156Y-045100493010445415480AA城投C5015323玄武高新MTN001349D2Y-04299903902356317352A-城投B84352资料来源qeubee招商证券敬请阅读末页的重要说明3固定收益研究表3成交低于估值个券成交低于估值个券剩余期限估值价格偏成交净价估值收益率成交收益率估值收益率评级主主体流动当日成简称票息行业年离元偏离bp体债项性评分交笔数20随州城建MTN00120D2Y10410110-214530-1782364479AAAA城投A8757122海恒01201Y2Y0689905-3569405441355A城投D4696123萧山经开债499Y2Y0509984-1256371384367AAAAA城投A8657223常城建MTN001496Y03110111-711365372390AAA城投S9761222宣控04256Y0269770-1074414425318AA城投B8222122科城K2178Y02510299-1659410427590AA城投A8686122宣控03234Y0229869-1010407417348AA城投B8222122兴泸04465Y2Y0219802-518396401349AA城投A9140320长春轨交MTN003B210Y0219993-1061513524510AAAA城投B7536120华发02196Y0209998-1195530542530AAAAAA房地产A8703122江津02235Y2Y0209757-886465474354AA城投A8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